Jeremy C. Owens
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Beyond Meat stock falls despite earnings that show first profit in company history

Beyond Meat stock falls despite earnings that show first profit in company history

Meat-substitute company more than triples sales from the same quarter a year ago and produces $4.1 million in GAAP profit Beyond Meat Inc. shares fell in after-hours trading Monday despite an earnings report that showed the company’s first quarterly profit in history. The meat-substitute company reported a third-quarter profit of $4.1 million, or 6 cents a share, on sales of $92 million, up from a loss of $9.3 million on revenue of $26.3 million in the same quarter a year ago. The analyst consensus called for profit of 4 cents a share on sales of $82.2 million, according to FactSet. The...

October 28, 2019
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YouTube cites violence concerns in barring posting of new content by Trump

YouTube cites violence concerns in barring posting of new content by Trump

Alphabet Inc.'sYouTube video streaming service suspended President Trump's account Tuesday evening, days after other large tech platforms responded to a deadly riot at the Capitol by banning the president. On Twitter Inc.which Friday, YouTube said that the president could not upload new content for a minimum of seven days. The suspension was in response to new content uploaded to Trump's account, "and in light of concerns the ongoing potential for violence," YouTube said. Facebook Inc.banned the president until at least the end of his term within 24 hours of Wednesday's insurrection attempt...

January 13, 2021
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Affirm, PayPal co-founder’s fintech startup, files for IPO

Affirm, PayPal co-founder’s fintech startup, files for IPO

Affirm Holdings Inc. filed for an initial public offering Wednesday, giving a member of the “PayPal Mafia” yet another chance to score Wall Street riches. Affirm is a financial-technology startup that allows consumers to purchase goods and make payments in installments. It was co-founded by Max Levchin, a co-founder of PayPal Holdings Inc.who is chief executive of the company.Levchin is one of several early PayPal executives and employees who have moved on to find riches from other startups after selling the online-payments company to eBay Inc. in 2002. The group has come to be known as the...

November 18, 2020
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Disney shakes up streaming approach after losing nearly $5 billion due to pandemic

Disney shakes up streaming approach after losing nearly $5 billion due to pandemic

Streaming was about the only thing working for Walt Disney Co. amid a pandemic that has all but paralyzed its theme parks, live productions and cruise line, so Disney is going to rely on that direct-to-consumers pipeline even more.Disneyreported a depressing financial performance Tuesday that included a quarterly loss of nearly $5 billion due to COVID-19 and long-term depreciation of its European linear television channels. The only segment in the media empire to grow amid the pandemic included Disney+, the company’s streaming service that launched late last year and has already grown to...

August 5, 2020
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Disney to release 'Mulan' on Disney+, launch new streaming offering

Disney to release 'Mulan' on Disney+, launch new streaming offering

Walt Disney Co.plans to sell access to its long delayed "Mulan" live-action movie through Disney+ for $29.99, a new approach to that streaming service, and will launch a new international streaming offering under the Star brand. After the stock languished in after-hours trading following the release of third-quarter earnings, shares jumped to gains of nearly 5% after the twin announcements. Chief Executive Bob Chapek announced the new approaches in a conference call Tuesday afternoon related to Disney's fiscal third-quarter earnings report, which . Disney+ has been used as a subscription...

August 4, 2020
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